Entrepreneurs and experienced business individuals interested in establishing, purchasing, or investing in a business within the Northwest Territories may be eligible for consideration under the Business Driven Stream of the Northwest Territories Nominee Program (NTNP). In order to be considered, candidates must submit a comprehensive business plan demonstrating the viability of their proposed business and its potential to create job opportunities for Canadian residents in this northern region. Upon approval, the entrepreneur must satisfactorily complete a series of specified tasks related to their proposed business before receiving a nomination certificate from the province.
The Entrepreneurs stream of the Northwest Territories Nomination Program Requirements
Applicants to the Northwest Territories Entrepreneur stream are required to demonstrate language proficiency in English or French at Canadian Language Benchmark (CLB) level 4, which must be supported by official language test results obtained within the preceding six months.
While there is no minimum level of education specified, candidates must have the appropriate educational background to execute their proposed business plan effectively.
Similar to the level of education requirement, there is no minimum work experience for this stream, but candidates must have the necessary experience to successfully implement their proposed business plan.
Applicants to the Entrepreneur stream must possess a significant net worth and sufficient funds for investment in their chosen business. Foreign entrepreneurs must own, or have plans to own, a minimum of 33.3% of their Northwest Territories business. However, if their personal net worth exceeds CAD 1,000,000, they may be eligible to own less than one-third of the business.
The personal net worth and investment requirements vary based on the location of the proposed business, with higher requirements for businesses located in the capital city of Yellowknife. For businesses in Yellowknife, applicants must have a minimum personal net worth of CAD 500,000 and are required to invest at least CAD 300,000. Meanwhile, those outside of Yellowknife must have a minimum personal net worth of CAD 250,000 and a minimum investment of CAD 150,000.
Requirement | |
Express Entry Profile | No |
Connection to Province | No |
Job Offer | No |
Language Proficiency | CLB 4 |
Level of Education | Level of education and/or certification needed to fulfill the business plan |
Work Experience | Level of experience needed to fulfill the business plan |
Investment Requirement | Investment: $150,000 CAD |
The Entrepreneurs stream of the Northwest Territories Nomination Application Procedure
The Northwest Territories Entrepreneur Stream is open for applications from eligible candidates at any time. Prospective applicants must develop a comprehensive business plan and undertake at least one exploratory visit to the Northwest Territories to gain an understanding of the local business environment. Following the exploratory visit, applicants will be invited to participate in an interview with the Northwest Territories Business Stream staff. If the applicant demonstrates a good understanding of the local business environment and a viable business plan, they will be asked to submit supporting documents within 60 business days.
If the Business Stream staff are satisfied with the supporting documents, the applicant will be invited to formally apply to the program. They will have six months to submit a complete application once they receive the invitation. Upon receipt of a complete application, Business Stream staff will begin developing a Business Performance Agreement with the applicant. Upon signing the agreement, the Northwest Territories will issue a letter of support for a two-year temporary work permit.
Certain business categories are eligible for LMIA-exempt temporary work permits, which allow foreign nationals to work in Canada while establishing their business. To apply for this type of work permit, the applicant must include the Northwest Territories-issued letter of support and submit the application to Immigration, Refugees and Citizenship Canada (IRCC). If IRCC issues the work permit, the applicant must submit a Business Stream arrival report form and accompanying documents within 60 days. They will have six months from the date of arrival to invest in their business and meet the conditions outlined in their Business Performance Agreement. Interim reports will be required every six months until the conditions have been met and the applicant is eligible for a provincial nomination.
Upon meeting all conditions outlined in the Business Performance Agreement, the applicant may be eligible for a nomination for permanent residence from the Northwest Territories. A nomination can only be issued 19 months after the applicant has begun developing the business and 12 months after the business has been in operation, except in exceptional circumstances. Once a nomination is received, the applicant has one year to submit a federal application for Canadian permanent residence. The permanent residence application must be submitted on paper and sent by mail to the appropriate application center. Paper-based PNP applications for permanent residence are typically processed within 18 months.
Contact Vizard
If you are interested in investment opportunities in Canada, contact Vizard Immigration, a professional immigration firm, for assistance. Our experienced team can provide you with guidance and information on the various investment options available in Canada, as well as assist you with the application process and representation before Canadian immigration authorities.
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